Adams v. Stanford Group Company

Class Action Complaint against Stanford

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This appears to be the first class action filing against Stanford in the wake of a fraud investigation by the SEC.

The complaint describes the allegedly aggressive sales efforts undertaken to sell the affiliated bank's CDs. The complaint alleges that the sales efforts misrepresented the safety and security of the CDs. The complaint also alleges that the Stanford affiliated entitles misrepresented their performance and investment returns. The returns are alleged to have been "misleading and inflated."

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Published In: Securities Updates

Reference Info:Pleadings | Federal, 5th Circuit, Texas | United States

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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